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Worthing (Ham Way) Residential Development Stage 2 Loan (RSP) (EIR 7.19%) -
Senior Tranche


The fund the continued construction of 3 houses. EIR is the Effective Interest Rate and assumes the re-investment of quarterly interest receipts into loans on the Relendex platform offering an equivalent interest rate as below.

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IMPORTANT
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Loan Amount
£200,000
Loan Term
11 Months
Lender Interest Rate
7%
Loan To Value (LTV)*
50%
Key Loan Details

Annual interest
£14,000

Security
1st Legal Charge

Guarantee
Personal Guarantee from the director for the capital value of the loan plus interest and cost overruns

Interest serviceability
From retained loan proceeds for the term of the loan

Capital Repayment
Sale of the units on completion

Purpose of loan
Development
Key Property Details

Valuation
£1,175,000

Use
Residential

Location
South East
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